ARNHEM, the Netherlands - Akzo Nobel has acquired a controlling 60-percent share in Egypt's leading powder coatings manufacturer, Coatech For Chemical Industries SAE. The new joint-venture company will be renamed Akzo Nobel Powder Coatings SAE and will operate from Coatech's existing facilities near Cairo.

Employing 130 people, Coatech was established in 1992 and is the principal supplier in Egypt's powder coatings market.

Hanni Radwan - who established Coatech with Dr. Mohamed Radwan - will be general manager of the new joint venture. "Egypt is one of the largest powder coatings markets in the Middle East, and in recent years annual growth in powder consumption has been around 10 percent," he said. "The most important end-user sectors are the domestic appliance and air conditioner markets, with demand for architectural metal finishing also starting to increase significantly."